Framlingham LETS

What is a LETS?

LETS stands for Local Exchange Trading Scheme. It is a barter system, where members exchange goods and services with each other without using real money. There are dozens of schemes around the country.

How does it work?

Framlingham LETS is operated mainly via the website. Members are given login details which provide access to the members' area of the website. Here you can see the directory of goods and services offered and record your transactions. If you don't use a computer don't panic! We can provide a paper copy of the directory and you can let the co-ordinator know about your trades, or you could appoint another member as your techno-buddy.

Our unit of currency is the Framling (σ). σ1 = £1

There is no physical currency – it's more like earning brownie-points. Everyone's account starts at zero, so you have to go into debt to begin trading – in LETS, debt is a good thing!

What can I offer?

You could offer a service that you are professionally qualified for (plumbing, legal advice) or something you do as a hobby (cake-decorating, gardening, basket-making). There are plenty of things you could offer that need no particular skill, such as waiting in for tradesmen while your neighbour is at work or helping someone move house. Maybe you have equipment you are happy to hire out, or need to get rid of items you no longer use.

How do I join?

Anyone can join, including local groups, charities and businesses. You don't have to live in Framlingham, but the closer you are, the more useful you will find the scheme. There is no joining fee, but a small sum (σ2) will be deducted from your LETS account each year.